Point To Point FAQ
The Point to Point Special Meeting on December 16, 2010 had more than 400 couples attend. More than 300 proxies were received before the meeting. The final vote count showed 1598 in favor of the merger and 57 not in favor.
VI Benefits:
- Availability for VI resorts can be found online at www.viresorts.com with online reservations now available.
- No housekeeping or maid fees are charged at VI resorts, only the $20 Booking Fee is charged at the time a reservation is confirmed.
- Saving points with VI is automatic with no associated charge.
- Bonus Time is available at VI’s 42 resorts for rates as low as $50 per night.
- Book your reservation at VI resorts up to one year in advance.
When will I receive my paperwork from VI?
As the PTP merger was approved at the Member meeting on December 16th, we expect the transaction to close within the next 30 days. At that point, entire Owner documents and materials will be sent to each PTP member.
How many points will I receive?
You will receive one VI Point for every 420 Point to Point points you own (Example: 30,000 PTP pts = 72 VI pts). If your total VI points are less than 70, you will be set up to receive VI points every other year (Example: 25,000 PTP pts = 60 VI pts, which will be allocated as 120 pts Every Other Year). Through borrowing and saving, you will be able to combine points.
Are my current points that I have in my account with RCI Lost?
All RCI Point allocations prior to 2011 will be in your RCI account for you to use (based upon their expiration). Instead of receiving a 2011 RCI Points allocation, you will receive VI Points, which can be used within VI or through RCI.
Can I still transact through RCI prior to receiving my Owner documents?
Yes, however, if you use any of your 2011 allocation, you will be billed the maintenance fee for your entire allocation and receive your annual allocation of VI Points each July, along with your maintenance fee billing.
How much is the maintenance fee?
The VI operating fund (maintenance fee) is billed per point owned – currently at $7.18 (USD) per point. Your Use Year (12 month period when your points are allocated to your account) runs July 1 through June 30. You will receive your VI annual operating fund statement July 1, and have the option of paying in full by July 31st (USD) or paying monthly with a 1% finance charge.
When are my maintenance fees due?
In July, you will receive a full allocation of points and be billed the prevailing maintenance fee rate. VI’s annual maintenance fee bills are in US Dollars and may be financed throughout the year at 1% per month. Going forward, you will receive your allocation and maintenance fee billing each July.
Example:
In July, you will receive 72 VI Points and be billed the prevailing maintenance fee rate, currently $510
Which PTP locations will be included in VI?
Certain locations/intervals will be retained by VI, subject to VI Board approval. At this time, the units at Victoria, Vancouver and Phoenix will be included. Other locations are still under consideration by the VI Board.
Is Whistler included?
No, however, Vacation Internationale owns The Clock Tower, located in Whistler Village.
If I own less than 29,000 PTP Points, how will I vacation at VI?
If your allocation of Vacation Internationale points is less than 70 points, you do not have the required amount to receive points every year. You will receive a full allocation in July, and every other year thereafter. Your annual operating fund assessment (maintenance fee) will be billed to you in the year you receive your points. Through VI’s feature of saving and borrowing, you are able to use up to two years’ worth of points in a single year.
Other than the 42 resort locations, what else does VI offer?
VI secures over two thousand exchange weeks in areas we know that our VI Owners desire – these weeks are made available to our Owners through our Instant Exchange Program for a nominal exchange fee + VI Points. We have an agreement with WorldMark by Wyndham for our Owners to exchange into nightly drive-to locations like Vancouver, Victoria and Seattle.
Will my membership still be in perpetuity?
Yes, the ratio will convert at 420/1, for every 420 Point To Point points’, you will be awarded 1 VI Point. These points will be in perpetuity.
What are my protections as a VI Owner?
As new VI contracts are sold, additional apartments will be added at existing or new resort locations, in this case, Victoria and Vancouver to maintain a balance between VI contracts outstanding and apartments in the program. All VI apartments are protected against any encumbrance, sale or attachment of the units by creditors of VI or of VOS, the developer.
Will I still have access to Bonus Time?
As a VI Owner, all VI resort locations are available at VI Bonus Time rates within 15 days of arrival, starting at $50 (USD) per night, based upon condo size.
How can I see what VI Resorts are available?
As a VI Owner, you are able to book a reservation up to 1 year in advance. In addition, you are able to view availability online at all 33 VI Resort locations, VI’s Instant Exchange locations and VI’s Nightly Exchange locations - this is a great planning tool. In the first quarter of 2011 our website will be enhanced to allow VI Owners to confirm reservations on our website. You will also be able to speak to our experienced VI Owner Services Representative who can answer any questions or book your reservations.
Will this affect my RCI membership?
If your RCI Subscribing Membership account relates to your Point to Point (converted to VI) ownership only, your RCI membership will not be affected. You will continue to pay your annual membership fee to RCI. You will be able to access your RCI account through the VI website and your points will show in VI point amounts. Your points will not be deducted from RCI until the reservation is confirmed.
If your RCI Subscribing Membership account relates to your Point to Point (converted to VI) ownership plus an ownership at another RCI Affiliated Resort, your RCI Points membership for the other resort will become a separate membership from your RCI membership through VI. Separate RCI Points membership fees will be required for the non-VI RCI membership.
For RCI questions call the VI desk at RCI at 1.866.280.7502.
Are my current RCI Points reservations still valid?
Yes, all reservations confirmed through RCI using your Point To Point/RCI Points are valid.
What if I make a reservation now?
If you have sufficient points to confirm a reservation, they will be deducted from your RCI Points balance.
When I make an exchange using my VI points through RCI, will the amount of points RCI Points requires also be divided by 420?
Yes, when you view RCI availability online, it will be figured in VI Points currency.
(Example: 30,000 Point to Point points = 30,000 RCI points
30,000 Point to Point points = 72 VI Points
72 VI Points = 30,240 RCI points –this will be shown in VI Points.)
Do I still have to pay my loan payments?
Yes, if you have an outstanding loan, your payments are still due and payable to Crelogix Credit Group Inc. (formerly Travelers Acceptance), Concord Servicing or West Coast depending on whom you pay your monthly payments to currently. All lenders are fully aware and supportive of the merger.
What happens if I don’t want to be a VI member?
You are under no obligation to accept the $169.00 USD (one time fee) conversion to Vacation Internationale provided you have paid off your Point To Point purchase contract. However, if you have an unpaid balance for your purchased contract owed to Crelogix Credit Group Inc. (formerly Travelers Acceptance), Concord Servicing or West Coast depending on whom you pay your monthly payments to currently you are still responsible for paying these loan obligations. In addition, any future reservations you have made prior to the closing may be cancelled should non-payment occur.
*FYI - If youdo not convert to VI your RCI membership will not be available for renewal after your current points expire.
VI is committed to making your vacations hassle-free and relaxing, after all, you deserve it! Vacation Internationale is pleased to welcome you to the VI family of resorts and members!
VI Vacation Examples:
75 VI Points = 31,500 PTP Points
|
Resort Location |
Condo Size |
Season |
Dates |
# Nights |
VI Points |
|
Rosedale on Robson |
1 Bdrm |
Prime |
8/2 - 8/6 |
4 incl. Fri/Sat |
72 VI Points |
|
Hawaii (any island) |
1 Bdrm |
Quiet |
11/1-11/7 |
7 |
77 VI Points |
|
Ocean Shores, WA |
2 Bdrm |
Choice |
5/25-5/31 |
6 incl. Fri |
74.5 VI Points |
|
Mazatlan, MX |
1 Bdrm |
Prime |
12/25-12/31 |
5 |
75 VI Points |
|
VI Nightly ExchangeThe Camlin – Seattle |
Studio Plus |
High |
6/1-6/6 |
5 |
70 VI Points + $97.50 Ex Fee |
|
Whistler, BC |
1 Bdrm |
Choice |
1/3 -1/10 |
7 |
75.5 VI Points |
|
RCI EX – RCI Weeks location within 30 days |
2 Bdrm |
12/17-12/24 |
7 |
21.5 VI Points + RCI Exchange Fee |
119 VI points = 50,000 PTP Points
|
Resort Location |
Condo Size |
Season |
Dates |
# Nights |
VI Points |
|
Hawaii (any island) |
Studio |
Prime |
11/16-11/28 |
11 |
110 VI Points |
|
Puerto Vallarta, MX |
2 Bdrm |
Prime |
12/20-12/26 |
6 |
111 VI Points |
|
Palm Springs, CA |
2 Bdrm |
Choice |
5/1-5/10 |
9 |
121.5 VI Points |
|
VI Instant Exchange Paris |
1 Bdrm |
12/3-12/10 |
7 |
91 VI Points + $135 Ex Fee |
|
|
RCI Ex – Orlando Sheraton Vistana – Fountain Villas |
2 Bdrm |
Prime |
12/30-1/6 |
7 |
109 VI Points + RCI Exchange Fee |
179 VI points = 75,000 PTP Points
|
Resort Location |
Condo Size |
Season |
Dates |
# Nights |
VI Points |
|
Sedona, AZ |
2 Bdrm |
Choice |
11/28-12/16 |
18 |
180 VI Points |
|
Santa Fe, NM |
1 Bdrm Dlx |
Choice |
5/1-5/15 |
14 |
182 VI Points |
|
Lake Tahoe |
2 Bdrm |
Prime |
12/15-12/22 |
10 |
185 VI Points |
|
Orlando, FL |
3 Bdrm |
Prime |
3/2-3/9 |
7 |
182 VI Points |
|
Sunriver, OR |
2 Bdrm |
Prime |
8/1-8/11 |
10 |
185 VI Points |
|
Mazatlan ,MX |
4 Bdrm PH |
Choice |
6/8-6/12 |
5 |
175 VI Points |
Presentation to Point to Point Destinations Owners Association Special Meeting:
How did the Club get here?
- 2010 Budget - $1,834,506 billing 142,293,714 Points @ $.01397
- Developer stopped selling in August, delinquencies rose to 8%-9%
- $200,000 shortfall for 2010 – from lack of new members per sales budget
- Johnny Saldat contacted Stuart Allen and indicated West Coast Timeshare Ltd. Was in financial difficulty and asked for assistance to ensure all the clubs were not affected.
- As an interim measure VI and its development company assisted with payroll and operating bills until WCTS and its lender reached an agreement for funding
- Contingent on that funding was a change in management
Forecast for 2011
Merger is not the only way
- $200K shortfall from 2010
- Budget to increase approximately 15%
-2011 external resorts maintenance fees expected to increase 5% to 10%
-WCTS ceased as the developer, so no one to resell delinquent points
-If following the trend of other timeshare clubs with no developer, delinquencies will typically increase 10% - 13%
Vacation Internationale
- Largest Owner-controlled timeshare association in North America
-Founded in 1974 – VI has been a leader in innovations in the vacation market, pioneering the points based system with allows ultimate flexibility
-More than 35,000 VI Members and growing
-33 desirable destinations [Hawaii, Mexico, British Columbia,Washington, Oregon, Idaho, California, Arizona, New Mexico, Colorado, New Hampshire, Massachusetts, Florida]
-VI condos are held in a debt free real estate trust for the benefit of all VI Members, ensuring your vacation future
-VI is an Owner controlled timeshare program where each member has an opportunity to serve and contribute to the future of VI
Plan for Merger
- PTP Points would convert to VI Points at the rate of 420 PTP Points to 1 VI Point
-This is also how VI Points convert to RCI Points
For 2011 . . .
-After returning your contract, in July, you will receive a full allotment and maintenance fee
Example: 30,000 PTP Points = 72 VI Points
July 72 VI Points = $510
Maintenance fee bill is in US Dollars - RCI Points:
Previous allotments that have been saved within RCI will be preserved
All future reservations will be preserved
VI Membership:
42 Home Resorts (including Whistler)
Reservations up to 12 months in advance
No housekeeping or maid charges
Booking fee - $20 each time a reservation is made or modified
No guest fee
Bonus time at VI Resort locations within 15 days as low as $45 per night
VI’s Exchange
Instant Exchange: Over 2,000 weeks VI has direct trades with $135 exchange fee
+ points per week and booking fee
Nightly Exchange: 10 WM by Wyndham locations available on a nightly basis for
$19.50 per night + points per night and booking fee
RCI
No VI Points are deducted until after confirmation
Reservations may be booked online at RCI through VI website (in VI currency)
You maintain your RCI Points membership
PTP Inventory to be retained by VI
Certain locations/intervals will be retained by VI, subject to VI Board approval
Units at Victoria, Vancouver and Phoenix
Tentatively, intervals at Stoneridge, ID, Crestwood, MT, Shuswap and Panorama, BC, Fort Lauderdale, FL
10 Year VI Assessment History (1999 - 2010)
| 99/00 | 00/01 | 01/02 | 02/03 | 03/04 | 04/05 | 05/06 | 06/07 | 07/08 | 08/09 | 09/10 | 10/11 | |
| Operating | 3.82 | 3.99 | 4.42 | 4.57 | 4.68 | 4.69 | 4.93 | 5.17 | 5.57 | $5.98 | 5.98 | 5.98 |
| Renovation | 0.52 | 0.80 | 1.08 | 0.71 | 0.88 | 0.71 | 0.71 | 0.71 | 1.02 | 0.99 | 1.05 | 1.10 |
| Renovation - Special Assessment | 1.55 | 1.18 | 1.02 | |||||||||
| Reserve contribution (transfer) | 0.05 | 0.02 | (0.28) | (0.01) | (0.17) | (0.60) | (0.23) | |||||
| 0.57 | 0.82 | 0.80 | 0.70 | 0.71 | 1.66 | 1.66 | 1.73 | 1.02 | 0.99 | 1.05 | 1.10 | |
| cost per point | 4.39 | 4.81 | 5.22 | 5.27 | 5.39 | 6.35 | 6.59 | 6.90 | 6.59 | 6.97 | 7.03 | 7.08 |